The move would make Ohio the first state in the nation to accept the cryptocurrency for tax bills.

“Beginning this week, Ohio businesses will be able to go to the website OhioCrypto.com and register to pay everything from cigarette sales taxes to employee withholding taxes with bitcoin. Eventually, the initiative will expand to individual filers,” the article says.

“I do see [bitcoin] as a legitimate form of currency,” Mr. Mandel told the Journal, adding that he hopes other states will follow suit.

Bitcoin is a cryptocurrency, or a digital token, that can be sent electronically and directly from peer to peer.

There is no physical backing and it is a decentralized currency — meaning it is not controlled by any government or banking entity. Bitcoin is the first cryptocurrency ever created, and remains the most popular one to date.